Ticker

April 01, 1990

HAMPTON ROADS

CUTTING JOBS: At least 400 jobs will be cut at the Norfolk Naval Shipyard in Portsmouth in coming weeks because of a slowdown in repair work, and a union president said the Navy expects to cut at least 540 more jobs through attrition or additional layoffs by 1992.

UPS AND DOWNS: Home sales in Hampton Roads increased from January to February, but remained below the level of sales in February 1989, according to figures fromthe Virginia Board of Realtors.

RETHINKING PLANS: Wetlands on Oakland Industrial Park property have prompted Nippon Express U.S.A. Inc. to rethink its building plans. Tuesday, the freight forwarding company told the Industrial Development Authority of Newport News that instead of buying the 16.8 acres it had orginally requested, it wants to buy 12.4 acres and option another 4.37 acres for five years. The smaller tract of land contains the bulk of the wetlands.

BIG LACK: The McDonald's restaurant at 35th Street and Washington Avenue downtown Newport News closed its doors a week ago. A McDonald's spokesman said Thursday the closing was a business decision based on poor performance.